I've never balanced my budget. I think my net revenue has grown by over 100k every year for 10 years, and my debt has grown by even more, however, I own a ton of property, and my debt is in mortgages, so does that mean my business is failing?
If a private company goes public, and sells off 80% of its value in stock for 100 million, in reality, it has just created a debt of 100 million, but in reality, it has created value from nothing. The US economy, by virtue of it's debt, is maintaining trillions of dollars in "value", no different than paying dividends to stock-holders or interest on a mortgage.
Debt isn't "always" a bad thing.